Member Info for sasa43

Hi NewK - sorry to have stolen your riposte on the cash front, then...

All the LTH's on here are aware of the cash balance, of course, being a major feature, with limited prospective, decom costs, too; Tom's disingenuous commentary seemed quite unwarranted, hence my view to the contrary... sasa.

Tom - such management incentives involve much more than just the 'allocation of earnings' you've mentioned - those earnings are the end result of astute husbandry of the company in a difficult industry climate and even you must concede that Serica's journey over the past three years has been exceptional, without any dilution, either!

Moreover, the transformational result of TCW's and MF's guidance over this period has been very beneficial for the shareholders and looks set to continue; personally, I think they've thoroughly earned their incentives, rather than many receiving rewards for much less achievements, even for poor stewardship in many cases, as a 'perk' of office. Not so here...

Btw, NewK forgot to mention that, in addition to being debt - free, we also have over £100m in the bank in case you hadn't noticed - sasa.

Hi chinch - yep, in hindsight, he could well have done but before the divd confirmation?
Back then, the oil price was on the floor and anything in the sector looked quite vulnerable but now there's a decent recovery in sentiment and with good 2019 figs. announced and, more importantly, an encouraging outlook / a worthwhile yield to assist the total return, the shs look more firmly based now...

I guess he likes SQZ even more currently inside his ISA (being a high rate tax payer, etc.,) - I know I do! - sasa.

Malcolm Webb was obviously utilising his ISA allowance (£20k p.a) in this new tax year.
He, like us, knows an appealing investment when he sees it (quite apart from being 'connected') - with a reliable divd coming up, too - smart move, imv - sasa.

I think you're right on the 'closed period', Ghia, regardless of views to the contrary. I had to abide by the compliance officer's constraints / get permission prior to dealings, etc., when my old firm was involved with so many companies - I think the 'closed period' back then was a month prior to issuing an RNS, if memory serves but that was some time ago now and things might have changed.

It's nice to be able to deal when I wish, now that I'm retired; good news today, certainly... sasa.

Interesting observation there, by the late Larry Edelson, Herbie.
However, 'when Govts get desperate, they'll do anything' - quite right, as the US did in the 30's by outlawing private hoarding of gold by peeps and the gold miners, like Homestake at the time, went ballistic...

Similarities today, quite possibly (confiscation risks of personal bullion hldgs if things get out of hand again) but moving against listed gold producers, being legal entities in their own right, would be quite a different matter, so I tend to favour these for exposure to AU / AG and the decent ones, like POLY / HGM, etc., pay a useful divd, too... sasa.

The only caveat was that it's based in Russia (surprise, surprise!).... sasa.

10k shs is the EMS - sasa.

Hi Joe, sorry I couldn't be more helpful re: the delayed 2018 mining results - I realised my typo on the year after I posted the reply; like you, I hope not 2108 either! - sasa.

Yep, agree with that, chinch - it is an interesting appointment at this particular time... sasa.

As I'm more of a mkt man, myself and haven't the time to fully research the pros and cons about SNG's interferon nebuliser based treatment but what I have gleaned from the RNS's and others' comments on here lead me to be very positive, IF one's patient - an all too rare a virtue in the investment world these days...

There are many good posters on here, inc. Ghia, imv, who make useful contributions (unlike many BBs elsewhere) and they're to be appreciated, not maligned, for their input, I reckon - just sayin'... sasa.

Hi Joe - just seen your post...
Like everybody else, I'm stumped for a good reason why the the 2108 mining results (deemed to be exceptionally good back then) have never been released. They surely must be when the TEO is finally achieved to make for maximum impact, especially if that facilitates any off - take / JV talks or other developments upon approval. Can't believe they weren't anything other than that, otherwise...

Just a quick comment on Rick Rule's view on being 90% down on an investment - 'double up or get out' - don't agree with that - there's such a thing as 'throwing good money after bad'! If this doesn't work out after all this time, then the drubbing I'm in for here (like most of us, I'm sure) is more than enough to contend with and I'd look for alternatives to redress matters, which is what I've been doing in recent times.

Having said that, I've known a few situations like this that have suddenly come back from the dead and with a couple of, seemingly astute and accomplished, deal makers now on board AMC, one can only hope that they will pull something off with that TEO as a starting point - sasa.

Yep, RELLIM - 2022 could well be the time that Serica's 'aspiration' to move up to the main mkt is crystallised. For by then, with Rhum 3 (assuming success) and Columbus both humming and 100% ownership of BKR under our belt, we'd look very attractive as a reliable growth / income stock for the Instos, I'd say...

And then there's the drilling of Eigg at some point, to add some spice to the mix, quite apart from any unexpected deal which might be announced - just need gas prices, especially, to turn up again to top it all off! - sasa.

Yes, RELLIM, you're right about Rhum 3 - it is potentially more productive than Rhum 1 & 2 combined (60% of what's there v 40% for the first two) so it's a considerable boost to output, if successfully brought on line.

It's good to see it going ahead now after the other Rhum partners' earlier reticence and with Columbus coming on stream next year, too, a considerable hike in boepd is in prospect and with a higher prod. share of it to boot, a material increase in revenues just adds to Serica's appeal...

All good stuff in this uncertain climate - sasa.

Agreed, dcarn - SQZ are only liable to decom costs under BKR on what they're subsequently accountable for on their own investment / extension plans...

RRE, on the other hand, has considerable decom cost liabilities ahead (although pushed further out now / well catered for with their ample cash pile) and their revised op. costs are stated as being some $18 per bbl prospective v $12.6 per bbl op. cost now for SQZ - hence my marginal preference for Serica to benefit rather more from Beeps 'changing horses' mid - stream, if it comes to that.

Either way, Cos with no debt and a burgeoning cash pile to hand are rare birds today and clearly in prime position in this climate... sasa.

Echo that, stuartmich, with Beeps already holding 5% of Serica - sasa.

Maybe Premier's pushing its luck over their deal with BP? It's obviously a 'life - saver' for PMO, given their huge debt problem; might BP walk away and offer the deal to a 'friendly' like SQZ with another BKR style arrangement? It's worked very well for both of 'em so far...

Or, perhaps, RRE might be tempted to 'gate - crash' the PMO / BP deal now that possibly hangs in the balance between them? Being in both, myself, either would materially benefit, so I don't mind which (marginally prefer Serica to win it if BP's a bit miffed at PMO's latest plans) - interesting situation, anyway, imv... sasa.

A good read that; the review of the 2019 outcome was very concise and informative (liked the 'Thank you' at the end - a nice touch, I thought) and whilst the debt situation is notable, it's comfortably serviceable as exemplified by the Net Debt / EBITDA ratio of 1.2 x...

The key going forward, of course, is the Kekura contribution in three years time and if the AU price strengthens meaningfully in the interim, the sp will be a lot higher than it is now - good stuff, meanwhile... - sasa.

Thanks BB2 - will have a look... sasa.

Agree Henners, about the quality posters TDT and RedL - both gotta better handle on this thing than me, tbh and I'm a ten year man in here like you and many of us.

Reaching the TEO is obviously crucial at this delicate stage; once we have 'cut the mustard' on this requirement, we should have something really tangible to discuss with interested parties and with two 'deal specialists' on board now, one can only hope that they're successful.

After all this time, I've mentally switched off from it being so long in the bottom drawer but I've known other situations suddenly spring into prominence on a major development and can only hope that this happens here; at least there's no debt / bond holders to worry about, thankfully - sasa.